Buying Your First Home - Step 1

By
Real Estate Agent with Ralph Henze Homes - RE/MAX Elite

Buying Your First Home

Tired of renting? Living in a basement?  Need more space?  The process of buying your first home can be overwhelming.  Here are some steps to consider to turn your dream into reality.

Review your budget (yes, you need one!)  Do you make enough monthly income to qualify for a mortgage and pay for the mortgage payment, taxes, condo fees (if there are any), utilities and regular maintenance?  You can count on needing at least $1500 a month. Check this website out for great budgeting ideas:

http://www.gailvazoxlade.com/resources/guide_to_building_budget.htmlBuying Your First Home

Start saving for your down payment.  For a $200,000 condo, you can expect to need a minimum of $10,000 down.

Then save some more!   Establish your priorities.  That might mean putting off things like the new car or expensive vacation for a while.

Establish good credit.  Pay off debts like your credit card regularly.

- Talk to your bank or a mortgage broker. They can help you find out what you qualify for.  If you don’t qualify yet, they can help you make a plan.

- Go online and check what’s available and for what price. Be realistic about your expectations.  House, duplex or condo?  New or old?  Remember, it’s a process, you probably won’t be starting out in your dream house!

With a bit of planning, your first home doesn’t need to look like this!

Your First Home

For more information on buying a home, check out my website at:  www.RalphHenzeHomes.com

Comments (7)

Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Welcome to Activerain and I hope you are learning a lot and if you ever need any assistance, don't hesitate to Check out my blog, email me, call me, I will be glad to help you in any way possible. Also, check out the main page of Activerain and look for the Activerain University tab, there are lots of educational webinars to help you build your business.

Nov 13, 2011 01:59 AM
Amy Morrison
Knipe Realty NW - Portland, OR

Welcome to Activerain, 

As someone else who is newer to the rain, here have been the two places I have spent most of my time learning from those before me. The first is Activerain University and the second is the Activerain Newbies group on Activerain. I think I learn more in those two spots on blogging and business building than I could anywhere else. The people here are sol willing to share their knowledge. 

Amy

 
Nov 13, 2011 02:18 AM
George & Arlene Paukert
Road to Wealth, Inc. - West Palm Beach, FL

Don't you just love Activerain! I think you will learn so much here, I know we have! Look forward to getting to know you better.

 

Arlene

Nov 13, 2011 02:21 AM
Knipe Realty
Knipe Realty NW - Portland, OR

Welcome and glad you found Activerain and hope to get to know you better. If you ever need any help, don't hesitate to shoot us an email, we would love to help you.

 

NW Broker Secrets

Nov 13, 2011 02:23 AM
Ralph & Janet Henze
Ralph Henze Homes - RE/MAX Elite - Sherwood Park, AB

Todd, first off, your pictures on your blog are awesome!  Especially the dog.  Thanks for the advice.  It's amazing all the information available on this site.

Ralph

Nov 14, 2011 02:20 PM
Ralph & Janet Henze
Ralph Henze Homes - RE/MAX Elite - Sherwood Park, AB

Amy, thanks for the advice.  We will definately check out the university and the Activerain Newbies group.

Ralph

Nov 14, 2011 02:22 PM
Ralph & Janet Henze
Ralph Henze Homes - RE/MAX Elite - Sherwood Park, AB

Arlene, so far so good.  Learning something everyday.  Look forward to getting to know you as well.

Ralph

Nov 14, 2011 02:24 PM